August 31, 2012: Regulator Orders External Review After Peregrine Collapse; KSE, BSE In Talks Over Cross-Listing Of Indices; Euro Crisis Faces Judgment Days

Industry News supplied by John Lothian

Date: Aug 31, 2012

The head of the National Futures Association orders an overhaul of staffing and processes in the wake of the agency’s failure to detect Peregrine Financial Group’s fraud over many years. Exchanges in Karachi and Bombay are well along in talks to cross-list futures products; Karachi is also talking with NYSE Euronext about listing index products [...]

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August 30, 2012: Switzerland seeks tighter off-exchange oversight; Asean bourse link set for September launch; Chinese Banks Funneled Money to Iran, Prosecutors Believe

Industry News supplied by John Lothian

Date: Aug 30, 2012

Switzerland’s financial regulators shift closer to a US perspective, and plan to exert more control over private derivatives trading.  A multi-market data link receives regulatory approval in Asia, setting the Asean connection on a path to go live in September.  In the latest chapter of the thriller, “Who Sneakily Sent Money to Iran?” prosecutors believe [...]

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August 29, 2012: Asia hits out at US swaps reform plans; Hedge-Fund Marketing Could Begin New Era as SEC Set for Proposal; Monti Tries to Nudge Germany to Back E.C.B.

Industry News supplied by John Lothian

Date: Aug 29, 2012

Regulators in Asia don’t appreciate the US’s effort to extend its financial rules beyond the country’s borders, continuing to tangle the international regulatory ball of yarn.  Hedge funds gear up to begin public marketing given new rules from the SEC that allow the practice.  Mario Monti of Italy elbows his compatriot heads of Eurozone state [...]

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August 28, 2012: Eurex In Singapore Expansion Drive; NYSE Euronext Chief Calls On U.S. Policy Makers To Address Debt; Suits Mount In Rate Scandal

Industry News supplied by John Lothian

Date: Aug 28, 2012

Eurex Exchange begins a membership drive in Singapore, seeking new banks and brokers there to give a boost to its clearing house. In the “Did you not hear me, or are you not listening?” department, the head of NYSE Euronext tells U.S. lawmakers that investors want to see an improvement in the country’s debt structure. [...]

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August 27, 2012: TSE’s Osaka Deal Marred By Share Fall, Regulator Scolding; CME May Add Rates Trading In U.K. After Currencies; SEC To Review “Quiet Period” IPO Rule After Facebook Mess

Industry News supplied by John Lothian

Date: Aug 27, 2012

Tokyo Stock Exchange’s big merger completion symphony is interrupted by vuvuzela horns from regulators and worried shareholders. CME Group’s post-FX plans for its new London exchange may include interest-rate products. The SEC considers the value of trying to restrict what companies may say while in pre-IPO mode, possibly noting that the recent Facebook offering wasn’t [...]

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August 24, 2012: Reform looms anew for money market funds; NYSE Amex Options to Eliminate Position Limits for Options on SPY; Japan takes its first steps

Industry News supplied by John Lothian

Date: Aug 24, 2012

The day after the SEC declared it would abandon its effort to reform money market funds, other regulators in and out of the US say they will step up and consider new requirements.  NYSE Amex Options exchange announces that they’ve received SEC approval to eliminate position limits on SPY options.  With the TSE-OSE merger good [...]

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August 23, 2012: Exchanges hit again by trading error; Six Group on acquisition hunt; TSE’s Tender for Osaka Bourse Succeeds as Pledges Exceed Maximum

Industry News supplied by John Lothian

Date: Aug 23, 2012

Nasdaq and other exchanges cancelled trades on Wednesday after bad orders caused prices to rise too far, too fast; perhaps adding a simple “CTRL+Z” to exchange trading platforms would be in order at this point.  Switzerland’s SIX Group has extra cash in its pocket and is looking at some kind of strategic acquisition.  The Tokyo-Osaka [...]

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August 22, 2012: Man Group Debt Downgraded by Moody’s After Assets Decline; CME to begin clearing silver forwards; SEC Pays $50,000 in First Dodd-Frank Whistleblower Reward; GFI may buy an exchange

Industry News supplied by John Lothian

Date: Aug 22, 2012

Man Group Plc’s (EMG) credit rating was cut by Moody’s Investors Service.  CME Group has new plans to begin clearing silver contracts, adding that alongside its gold-clearing operation. The SEC rings the bell and hands out its first Dodd-Frank whistleblower payout.  GFI Group, looking at new regulations requiring many transactions to take place on an [...]

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August 21, 2012: CME move highlights demand for ‘regulatory choice’; Regulator Says Broker Audits Fail to Include Required Work; Greece Readies More Cuts

Industry News supplied by John Lothian

Date: Aug 21, 2012

CME Group’s European exchange is said to be part of a plan to allow traders access to its products from different locations with different regulatory controls.  An accounting oversight board, having reviewed regulatory efforts to track brokerage capital and processes, says that those regulatory efforts fail to provide comprehensive coverage most of the time. In [...]

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August 20, 2012: CME Said Planning Europe Exchange to Compete With Eurex, Liffe; Deutsche Bank investigated in U.S. over Iran; Canada’s ATS Battle Heats Up With New Entrant

Industry News supplied by John Lothian

Date: Aug 20, 2012

CME Group files for permission to create a new exchange in Europe.  Deutsche Bank becomes the latest bank investigated over US-illegal, Iran-related transactions.  Chi-X Canada plans to introduce a new alternative trading system, bringing the total in that country to five. First Read Social benefits of high frequency tradingJohn Lowrey – FT.comThe evolution of financial [...]

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August 17, 2012: Futures Industry Leaders Discuss Insurance Fund; MIAX Moves Closer to Becoming 11th U.S. Venue; ASX Says Open to Merger of Equals as Profit Slips

Industry News supplied by John Lothian

Date: Aug 17, 2012

CME Group, its customers and other industry participants talk over the possibility of creating an insurance fund to protect traders.  The Miami International Securities Exchange makes progress towards opening its doors for business. In Australia, lack of business takes its toll on ASX, and its leader says the exchange is open to buying, merging or [...]

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August 16, 2012: No Criminal Case Is Likely In Loss At MF Global; JPMorgan Chase, Deutsche Subpoenaed Over Libor; ASX Hit By Drop In Equity Trading Value

Industry News supplied by John Lothian

Date: Aug 16, 2012

Civil suits are planned and filed, but as MF Global investigators near the end of their work, it looks increasingly likely that no criminal charges against executives will be filed.  Subpoenas for information are freshly filed with seven new banks in the ongoing and expanding LIBOR scandal investigation.  Australia’s ASX releases fresh financial data for [...]

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August 15, 2012: BATS unveils retail order discount plan; Trading volumes soar on Dubai exchange; Standard Chartered Settles Iran Inquiry for $340 Million

Industry News supplied by John Lothian

Date: Aug 15, 2012

BATS Exchange starts up a retail discount plan in order to stay competitive with NYSE Euronext.  Dubai’s DGCX sees new product offerings and incentives to trade pay off in a big way, as volumes over last year nearly triple.  Standard Chartered bank agrees to settle in a hurry with New York regulators for hiding transactions [...]

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August 14, 2012: Asia’s Oldest Bourse Plans IPO As Third India Rival Opens; FSA Mulls Tougher HFT Controls; Bowles Will Oppose Libor Repo Market Replacement

Industry News supplied by John Lothian

Date: Aug 14, 2012

BSE in India plans an IPO in the coming months, as newer competitors open their doors. In England, the FSA concludes a four-month look at high frequency trading and considers new rules to define that sector. A European reform agency has taken a look at the state of LIBOR in recent weeks, and believes that [...]

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August 13, 2012: Australia clamps down on ‘algo’ trading; Short-Selling Bans During Financial Crisis Did Little To Stabilize Stocks; Swiss banks accused over tax evasion

Industry News supplied by John Lothian

Date: Aug 13, 2012

Australia reveals new, big plans to rein in the risk of algo trading systems, including requirements for periodic testing (in addition to the every-minute-of-every-day testing that happens when they trade) and controls against abnormal behavior. A new study by the New York Federal Reserve discovers that short-selling bans don’t stabilize stock prices, nor do they [...]

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August 10, 2012: S Korea Plans Tax On Options And Futures; U.S. Banks Told To Make Plans For Preventing Collapse; Another Day, Another Trading Glitch: RBS Owns EUR/CHF Spike

Industry News supplied by John Lothian

Date: Aug 10, 2012

South Korea is planning a transaction tax for futures and options activity, and not surprisingly some say that the move could harm exchange volume in that country.  Formerly-secret plans regarding the banking industry come to light, showing that the U.S. government wants strategies in place for how banks might manage their own demise, and that [...]

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August 9, 2012: CME tests support for aluminum contract to rival LME; UBS traders offered deal by U.S. in interest rate probe; SEC to hold post-Knight forum

Industry News supplied by John Lothian

Date: Aug 9, 2012

CME Group considers building an aluminum contract to compete with a decades-old industry leading product at the LME.  US investigators into the LIBOR mess are said to be offering UBS traders immunity and protection deals in exchange for assistance in bringing down bigger game within the organization.  The SEC plans an industry forum to search [...]

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August 8, 2012: Glitches Stir Disclosure Debate; Knight Losses Spur Tighter Automated-Trading Rules From SEC; Standard Chartered Probe Said To Require Up To $700 Mln

Industry News supplied by John Lothian

Date: Aug 8, 2012

In the “Massive Tech Error Causes Great Pain” department, the three most recent trading faults during the past week provoke a wide range of responses and suggestions.  The SEC, along those lines, is considering tightening up the rules for automated trading in the wake of Knight Capital’s nearly-successful attempt to destroy itself.  And as the [...]

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August 7, 2012: China moves to algorithmic trading; Tech-caused trading halts on Tokyo and Spanish exchanges; Warsaw Exchange targets derivatives growth

Industry News supplied by John Lothian

Date: Aug 7, 2012

A Chinese brokerage company has decided to begin using an automated trading platform supplied by US companies, demonstrating the increasing interest in fast, automated trading systems in China.  Speaking of electronic trading, exchanges in Tokyo and Spain were both offline yesterday for several hours as their systems experienced malfunctions.  Warsaw Exchange takes stock and weighs [...]

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August 6, 2012: Euronext Plans Small Companies Exchange; Industry Raises Fresh Fears Over ‘Moral Hazard’ Of Clearing Houses; Four-Year Silver Probe Set To Be Dropped

Industry News supplied by John Lothian

Date: Aug 6, 2012

NYSE Euronext plans to open a new pan-European exchange focused on entrepreneurs. Risk experts express concern that clearing houses must have their own assets at risk to help avoid a moral hazard as a counterparty. The CFTC prepares to discontinue its investigation into manipulation of the silver market. In First Read, the financial industry mourns [...]

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August 3, 2012: London Overtakes New York As Brent Oil Beats WTI; Bourses Look To Exotic Market Tech Deals To Revive Revenue; JPMorgan’s “London Whale” Was Prodded To Boost Valuations

Industry News supplied by John Lothian

Date: Aug 3, 2012

Trading volume in crude oil points for the moment to a new leader, as trading in London pushes past New York’s contract volume. Exchanges, struggling with sagging volume amid economic, regulatory and execution woes, look to technology deals with smaller markets as a way to boost revenue. In the ongoing saga of, “A Whale and [...]

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